Methode Electronics (NYSE:MEI) Upgraded to Buy at Sidoti

Methode Electronics (NYSE:MEI) was upgraded by stock analysts at Sidoti from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports.

Separately, Robert W. Baird boosted their price objective on shares of Methode Electronics from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, December 6th.

Methode Electronics Price Performance

Shares of NYSE:MEI opened at $10.53 on Tuesday. The company has a market cap of $375.29 million, a P/E ratio of -4.16 and a beta of 0.76. The business has a fifty day simple moving average of $11.55 and a 200-day simple moving average of $10.96. Methode Electronics has a 52 week low of $8.54 and a 52 week high of $21.86. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Thursday, December 5th. The electronics maker reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.31. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same period in the previous year, the business posted $0.06 earnings per share. Equities research analysts forecast that Methode Electronics will post -0.4 EPS for the current year.

Institutional Investors Weigh In On Methode Electronics

Large investors have recently made changes to their positions in the business. Federated Hermes Inc. lifted its stake in shares of Methode Electronics by 46.2% during the fourth quarter. Federated Hermes Inc. now owns 1,413,611 shares of the electronics maker’s stock worth $16,666,000 after purchasing an additional 446,398 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Methode Electronics by 5.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,123,760 shares of the electronics maker’s stock valued at $13,440,000 after acquiring an additional 62,470 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Methode Electronics by 2.6% during the third quarter. Geode Capital Management LLC now owns 802,728 shares of the electronics maker’s stock valued at $9,603,000 after purchasing an additional 20,487 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Methode Electronics by 4.6% during the fourth quarter. Ameriprise Financial Inc. now owns 651,283 shares of the electronics maker’s stock worth $7,679,000 after purchasing an additional 28,464 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Methode Electronics by 31.4% in the fourth quarter. American Century Companies Inc. now owns 537,108 shares of the electronics maker’s stock valued at $6,333,000 after purchasing an additional 128,255 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Methode Electronics Company Profile

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.